Bank Local | Become a Member | AltaOne Federal Credit Union (2024)

At AltaOne Federal Credit Union, banking local means investing in you.

Banking local with AltaOne Federal Credit Union is like giving a warm hug to your community! When you bank with us, you're actually fueling local growth, helping create jobs, and supporting small businesses - it's a win-win for everyone!

AltaOne is not a huge, impersonal, for-profit corporate banking giant. We're a friendly not-for-profit financial cooperative, owned by the folks who bank with us. Becoming a member is as easy as saying "hello" with a simple application and a $25 deposit. And guess what? This membership comes with awesome benefits like competitive rates on accounts, loans that make you smile, and a bunch of other great perks and discounts you'll love. So come on and join AltaOne - we can't wait to welcome you to our financial family.

Why Choose AltaOne?

Community Vibes: We are community-oriented. We’re owned by our members, which means you're not a customer, you’re a member/owner. We’re not a faceless giant corporation; we’re your local small business owners and next-door neighbors partnering together to help each other reach their financial goals.

Personal Touch: We offer a more personalized experience. You're not just a number; we actually get to know you and care about your financial goals and life plans.

Great Rates, Lower Fees: We offer better deals on loans, credit cards, and checking accounts that help you keep more money in your pocket!

Local Focus: We reinvest in the local community. We fund local projects, support charities, and help out small businesses. So, by banking with us, you’re giving an economic boost to the community.

Profit = You: Banks are for-profit corporations that are all about making a profit for their shareholders. We are a not-for-profit financial cooperative that is focused on our members' well-being. Profits circle back to you in the form of better rates, lower fees, and expanded services.

What’s the difference between a Credit Union and a Bank?

Credit unions are community-oriented financial institutions that are not-for-profit organizations owned by their members (that's you!). Since they're not driven by making a big profit, they offer more personalized services and have lower fees and better interest rates on savings and loans.

Banks are for-profit financial institutions that have the goal of making the most money they can for their shareholders (not you).

Although banks may have a lot of branches and ATMs, AltaOne has banded together with other credit unions to offer more than 33,000 Co-Op surcharge-free ATMs and 5,300 Co-Op Shared Branches which is more than most large national banks.

We give back!

We're all about giving back and volunteering because, well, it just feels right, you know? We believe that success isn't just about numbers; it's about making a positive impact on our community. So, our awesome team loves to get out there and pitch in at local charities, schools, and community shindigs. We're not just your typical financial folks; we're here to help make our hometowns even more awesome. And hey, with our members by our side, we're all in this together, making our communities brighter and better.

People like us! They really, really like us!

We’ve been voted one of the best financial institutions over and over again in Kern County! It's not just about the awards, but what they represent - trust and satisfaction. Our dedicated team has been working tirelessly to provide our members and communities with top-notch financial services that meet their needs, and we're grateful that our efforts have been recognized. We're committed to continuing to serve with the same dedication and passion that got us here.


You are eligible to become an AltaOne member if you live, work, worship, volunteer, or attend school in Kern, Inyo, and Mono counties and selected communities in northern San Bernardino County or are an immediate family member of an AltaOne member.

Once a member, always a member!

Moving out of the area? Don’t worry, we’re part of the Co-Op ATM & Shared Branch network with locations coast-to-coast. You can keep your AltaOne membership and all your membership benefits if you live locally or across the country. Find the nearest AltaOne or Co-Op Shared Branch.

Important Information

Funds Availability Policy

Our general policy is to allow you to withdraw funds deposited in your account on the same business day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the business day of the deposit. The funds will generally be available no later than the fifth business day after the deposit.

Procedures for Opening a New Account

To help the government fight the funding of terrorism and money-laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each individual or entity that opens an account.

What this Means for You
When you open an account, we will ask for your name, address, date of birth, and other information, which allows us to identify you. We may also ask to see your driver’s license or other identifying documents. In addition, on legal entity accounts, we will require identification for Beneficial Owners and Controlling Persons.

All New Accounts are Opened Using ChexSystems

ChexSystems, Inc. is a nationwide specialty consumer reporting agency and an indirect, wholly-owned subsidiary of FIS.

Bank Local | Become a Member | AltaOne Federal Credit Union (2024)


Bank Local | Become a Member | AltaOne Federal Credit Union? ›

Becoming a member is as easy as saying "hello" with a simple application and a $25 deposit. And guess what? This membership comes with awesome benefits like competitive rates on accounts, loans that make you smile, and a bunch of other great perks and discounts you'll love.

Do you have to be local to join a credit union? ›

Some require you to live or work in a particular state or county, but others may allow anyone to join. Here's how to join a credit union, whether you're looking for small and local or big and nationwide.

What is the difference between a federal credit union and a local credit union? ›

The main difference is whether the permit to do business as a credit union was granted by the state government or the federal government. Whenever a new credit union is established, the organizers apply for either a state or national (federal) credit union charter.

What does it mean to become a member of a credit union? ›

For members, member-owned

It's that simple. When you join a credit union, a small deposit buys you a common share. With that simple transaction, you become a part-owner of your credit union, giving you access to several benefits (like access to a network of over 5,000 branch and ATM locations through Shared Branching).

What's the difference between a regular bank and a federal credit union? ›

Banks are typically for-profit entities owned by shareholders who expect to earn dividends. Credit unions, on the other hand, are not-for-profit, member-owned cooperatives that are committed to the financial success of the individuals, families, and communities they serve.

Can anyone join a local credit union? ›

Anyone can join a credit union, as long as you are within the credit union's field of membership. This is the common bond between members. The common bond could be your: Employer - Many employers sponsor their own credit unions.

What is the best federal credit union to join? ›

Compare the Best Credit Unions
Financial InstitutionWhy We Picked It
Blue Federal Credit UnionBest Overall
Liberty Federal Credit UnionBest for Checking
Alliant Credit UnionBest for a Savings Account
Service Credit UnionBest for Military Individuals & Families
1 more row

Is it better to belong to a bank or a credit union? ›

The Bottom Line. Credit unions can be ideal for a low-interest loan, lower mortgage closing costs, or reduced fees, but you'll need to qualify for membership. Larger banks may offer you more choices regarding products, apps, and international or commercial products and services, and anyone can join.

Why is a federal credit union better than a bank? ›

Why Choose a Credit Union? Lower interest rates on loans and credit cards; higher rates of return on CDs and savings accounts. Since credit unions are non-profits and have lower overhead costs than banks, we are able to pass on cost savings to consumers through competitively priced loan and deposit products.

Should I switch to a local credit union? ›

If you want higher deposit rates and don't need access to branches across the country, for example, you might prefer a credit union. If you want access to in-person services and don't mind lower interest rates, a bank might be more suitable.

What is the benefit of being a member of a credit union? ›

Higher returns, better savings, low interest on borrowings, and a sense of community – these are just a few of the benefits of credit union membership.

What are 2 advantages to being a member of a credit union? ›

Pros of credit unions
  • Lower borrowing rates and higher deposit yields. Credit union profits go back to members, who are shareholders. ...
  • Variety of products. ...
  • Insured deposits. ...
  • More personal service. ...
  • Educational resources. ...
  • Member-owned.
Aug 24, 2023

Are federal credit unions safer than banks? ›

Generally, credit unions are viewed as safer than banks, although deposits at both types of financial institutions are usually insured at the same dollar amounts. The FDIC insures deposits at most banks, and the NCUA insures deposits at most credit unions.

Are credit unions safer than banks right now? ›

If you're looking for a short answer, you'll be happy to know that we're not making you read the whole post: Credit Unions and banks are roughly identical in safety because deposits at both are insured by the Federal government to $250,000.

What are two disadvantages of being unbanked? ›

Being unbanked means things like cashing checks and paying bills are costly and time-consuming. Those who are unbanked often must rely on check cashing services to cash paychecks because they don't have direct deposit. They also have to pay bills using money orders, which adds time and expense to the process.

Can you get a debit card from a credit union? ›

Debit cards eliminate the need to carry around cash, and they help you avoid overspending. Getting a debit card involves opening a checking account, which can be done online or in person at most banks and credit unions.

What is the downside of banking with a credit union? ›

Limited accessibility. Credit unions tend to have fewer branches than traditional banks. A credit union may not be close to where you live or work, which could be a problem unless your credit union is part of a shared branch network and/or a large ATM network such as Allpoint or MoneyPass.

What is the easiest credit union to get into? ›

Teachers Federal Credit Union is among the easiest credit unions to join, requiring just a $1 minimum deposit into a TFCU savings account. Likewise, Alliant Credit Union is also easy to join with a one-time $5 donation to the Foster Care to Success organization. Best of all, Alliant pays this fee.

What are three ways for credit union membership? ›

The Federal Credit Union Act allows for three types of federal charters: Single Common Bond (occupational or associational), Multiple Common Bond (multiple groups), and Community. Depending on a credit union's specific charter, it may be possible to either amend or expand an FOM to include additional members.

Why do credit unions have membership requirements? ›

Memberships are a crucial part of credit unions because they give each member ownership in the union, which allows the institution to operate the way that it does.

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